The EUR/USD pair is highly recommended for traders who are only beginning to trade Forex. It trades easily by retail traders as well as by Central banks and financial institutions around the world.
The most active trading sessions takes place in London and New York and the most commonly used EUR/USD Forex charts are the Daily, 4 Hour and 1 Hour charts. The traders at Daily Forex will post the latest Euro to US dollar forecasts and will keep you totally updated regarding EUR/USD trading.
EUR/USD receives additional interest from volume generated by the Euro-crosses (e.g. euro/British pound (EUR/GBP), EUR/CHF and EUR/JPY. This interest tends to be contrary to the underlying U.S. dollar direction, making it an attractive market for short-term traders.
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The Euro initially tried to rally during the trading session on Thursday, but then fell rather hard to pierce the 1.08 level.
Today, with the most important event for the euro pairs in the forex market, where the European Central Bank will announce its monetary policy decisions.
The euro bounced from the crucial 1.08 level, an area that has been supported previously.
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The factors of the euro's weakness are still continuing, most notably the Russian war and its consequences.
The euro has continued to drift a bit lower on Tuesday to reach the 1.0850 level.
The EUR/USD exchange rate entered the new week's trading near its lowest levels in several years, stable around the 1.0880 support level closest to the most important bear target 1.0800.
The euro gapped higher to kick off the trading session on Monday but then turned around to fill that gap rather quickly.
The Euro Stoxx 50 went sideways over the last three trading sessions as we hang about the €3750 region.
With the beginning of this important week's trading, the price of the EUR/USD currency pair is trying to recover from last week's sharp losses,
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The euro plunged on Friday to show signs of weakness yet again but did recover a bit towards the end of the day.
The Euro has rallied a bit during the trading session on Thursday but gave back the gains to form an inverted hammer.
The US Federal Reserve confirmed that it is ready to raise US interest rates strongly during the year, and thus the strength of the US dollar increased against the rest of the other major currencies.
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The euro fell after initially trying to rally on Wednesday, as we continue to see plenty of downward pressure.
For four trading sessions in a row, the price of the EUR/USD currency pair moved amid a bearish momentum that reached the support level at 1.0900.
The euro fell again on Tuesday as we have broken through the 1.0950 level.